Monday, November 8, 2010

Siemens AG, Europe’s largest engineering company, aims to grow its sales from so-called green products designed to save energy to 40 billion euros ($55 billion) by 2014. Revenue from environmental products totaled about 28 billion euros in the fiscal year through September, the company said in an e-mailed statement today. The company had previously targeted revenue of at least 25 billion euros by 2011.

Siemens’ competitor General Electric Co. said it will invest about $10 billion in environmentally friendly products by 2015 through his five-year-old “ecomagination” program. Connecticut-based GE has a revenue goal for the program of $20 billion by 2010, with $18 billion in sales generated last year.

“We want to -- and we will -- increase our advantage over our most important competitors,” Management Board member Barbara Kux said in the statement.

Munich-based Siemens claims a leading position in technology for offshore wind farms, with more than 500 turbines installed, as well as solar thermal energy, advanced electricity grids, and water purification systems....MORE

Siemens is GE's much better managed doppelgänger.*
After closing up 5.5% in regular trade on Friday the stock was up another $7.12 to $114.08 after hours.
AH trading can often fade the following trading day but if not this is a very important (and profitable for those who are long) move, breaking through resistance that has stopped the stock four times in the last year....